Penalty u/s 271(1)(c) - Revenue expenditure or not - expenses on ...

Income Tax

July 27, 2018

Penalty u/s 271(1)(c) - Revenue expenditure or not - expenses on NPA’s - merely because the assessee has claimed the expenditure, which claim was not accepted or not acceptable to the Revenue, that by itself would not attract penalty u/s. 271(1)(c)

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Penalty u/s 271(1)(c) - Revenue expenditure or not - expenses on ...

Income Tax

July 27, 2018

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Merely because assessee had claimed expenditure which was not accepted or not acceptable to Revenue that by itself would not attract a penalty u/s 271(1)(c) - AT

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Penalty u/s 271(1)(c) - Merely because, the assessee did not preferred any appeal against the said disallowance does not make it an inadvertent mistake - penalty confirmed - AT

Penalty being 300% by invoking Section 271(1)(c) - return was revised before completion of assessment - Revenue is not justified in imposing penalty under Section 271(1)(c) - HC

Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any revenue recognition - t the assessee demonstrated that it had acted...

Levy of penalty u/s 271(1)(c) on unrecorded receipts, expenditure and investments declared by the assessee pursuant to search confirmed - AT

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